WTI Oil – Speculators trimmed bullish bets for 6th straight week

The Commodity Futures Trading Commission (CFTC) data released on Friday showed peculators decreased their overall bullish bets in WTI oil futures last week for the sixth consecutive week.

The non-commercial contracts traded by large speculators, traders and hedge funds witnessed a weekly change of -8,942 contracts to total a net position of +258,250 contracts in the data reported for August 9th.

During the same time, the commercials; hedgers or traders engaged in buying and selling for business purposes; trimmed their bearish positions to a net total position of -258,207 contracts.